HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Knox County, Indiana (FY 2027)
$1,014 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Knox County, and it's the baseline every voucher in Knox is measured against.
Two-bedroom FMR
$1,014
+6.1% from FY 2026
Payment standard
$913–$1,115
90% to 110% of the FMR, two-bedroom
Income to afford
$40,560
a year, with rent at 30% of income
Rank in Indiana
75th of 92
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $769 | $692–$846 | $30,760 | $14.79/hr | +6.1% |
| 1 bedroom | $775 | $698–$853 | $31,000 | $14.90/hr | +6.3% |
| 2 bedroom | $1,014 | $913–$1,115 | $40,560 | $19.50/hr | +6.1% |
| 3 bedroom | $1,332 | $1,199–$1,465 | $53,280 | $25.62/hr | +9.9% |
| 4 bedroom | $1,333 | $1,200–$1,466 | $53,320 | $25.63/hr | +5.3% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,533 | $1,380–$1,686 |
| 6 bedroom Estimate | $1,733 | $1,560–$1,906 |
| 7 bedroom Estimate | $1,933 | $1,740–$2,126 |
| 8 bedroom Estimate | $2,133 | $1,920–$2,346 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Knox actually rent for?
Search any address in Knox for a rent estimate built from nearby comps, with the HUD figure right next to it.
No card needed
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Knox somewhere between $913 and $1,115. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,014 a month is affordable, by HUD's 30% rule, on an income of roughly $40,560 a year. Put another way, $20 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$913 | Voucher pays at 100%$1,014 | Voucher pays at 110%$1,115 |
|---|---|---|---|---|
| $2,500 | $750 | $163 | $264 | $365 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 6% from FY 2026 ($956) to FY 2027 ($1,014). Since FY 2020 it's up 32% in total, about 4.1% a year. The Indiana median moved up 8% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $578 | $582 | $766 | $1,022 | $1,038 | — |
| FY 2021 | $587 | $591 | $779 | $992 | $1,056 | +1.7% |
| FY 2022 | $569 | $573 | $754 | $932 | $1,022 | -3.2% |
| FY 2023 | $592 | $645 | $849 | $1,033 | $1,141 | +12.6% |
| FY 2024 | $619 | $677 | $890 | $1,076 | $1,185 | +4.8% |
| FY 2025 | $652 | $707 | $928 | $1,145 | $1,230 | +4.3% |
| FY 2026 | $725 | $729 | $956 | $1,212 | $1,266 | +3.0% |
| FY 2027In effect | $769 | $775 | $1,014 | $1,332 | $1,333 | +6.1% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Knox, that runs from $769 for a studio up to $1,333 for four bedrooms, all five rates in the table above.
Because Knox sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Bicknell included.
Among Indiana's 92 counties, Knox ranks 75th for two-bedroom FMR. That's about 7% below the state median of $1,086 and about 5% below the national median county at $1,063. About 36,007 people live here, 44th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,010 in 47512 (Bicknell) and $1,220 in 47557 (Monroe City), with the 12 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 47512 | Bicknell | $1,010 | -0.4% |
| 47516 | Bruceville | $1,010 | -0.4% |
| 47524 | Decker | $1,020 | +0.6% |
| 47528 | Edwardsport | $1,140 | +12.4% |
| 47535 | Freelandville | $1,080 | +6.5% |
| 47557 | Monroe City | $1,220 | +20.3% |
| 47561 | Oaktown | $1,010 | -0.4% |
| 47573 | Ragsdale | $1,010 | -0.4% |
| 47578 | Sandborn | $1,010 | -0.4% |
| 47591 | Vincennes | $1,030 | +1.6% |
| 47596 | Westphalia | $1,070 | +5.5% |
| 47597 | Wheatland | $1,010 | -0.4% |
Nearby counties
Two-bedroom FMR, with how each compares to Knox.
Daviess County
15 mi · 33,658 people
$1,090
+7%
Sullivan County
25 mi · 20,780 people
$1,067
+5%
Martin County
26 mi · 9,830 people
$1,014
same rate
Greene County
27 mi · 31,021 people
$1,014
same rate
Pike County
28 mi · 12,154 people
$1,014
same rate
Gibson County
32 mi · 33,000 people
$1,083
+7%
Dubois County
38 mi · 43,614 people
$1,014
same rate
Lawrence County
45 mi · 45,102 people
$1,026
+1%
Questions people ask
$1,014 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $769 for a studio, $775 for one bedroom, $1,332 for three and $1,333 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Knox actually go for?
HUD's number is one input. Search any address in Knox for a rent estimate built from nearby comps. Free to start, no card.
Free tier. No credit card.